Zion Community Corporation Acquires Church In Suffolk VA For $4.4M From Foundation Capital Resources
2500 East Washington Street
$4,400,000
$111/SF
Building Size
39,470 SF
Asset Type
Church
Closing
Jan 6, 2026
About this deal
AI
The property involved in the transaction is a church located at 2500 East Washington Street, Suffolk, VA. The sale price for the asset was $4,400,000, and it encompasses a total square footage of 39,470, resulting in a price per square foot of $111.
Summary of transaction details:
- Property Type: Church
- Transaction Amount: $4,400,000
- Address: 2500 East Washington Street
- Market: Suffolk, VA
- Square Footage: 39,470
- Price Per Square Foot: $111
- Buyer: Zion Community Corporation
- Seller: Foundation Capital Resources
- Broker: Thomas (Tom) Dana - Cushman & Wakefield
Tom Dana managed the deal for the seller, Foundation Capital Resources, representing their interests in the transaction with Zion Community Corporation as the buyer.
Players
Suffolk Church Market Snapshot
Boundary boundary · Church · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93